So Troy is now essentially Azimuth plus a small silver operation (having finished Andorinhas and put Casposo on the back burner).
How things change.
However, I rate the Azimuth assets - it was a top quality acquisition, with huge long term potential. And at current Troy prices you get the Azimuth assets very cheaply.
I think they're doing the right thing easing back on Casposo. Margins are too thin and sovereign risk is currently pretty high. Guyana's a much sounder prospect at the moment. But Casposo's still a valuable asset - highly leveraged to the silver price.
Assuming Karouni gets going well enough that the company can meet its debt obligations without calling on shareholders, then I think Troy is a decent precious metals play.
TRY Price at posting:
27.5¢ Sentiment: Hold Disclosure: Held
